Experts Criticize Bulgaria’s Euro Transition Law as Vague and Overreaching

The recent amendments to Bulgaria’s Euro Introduction Law have sparked significant controversy, with prominent economists and political figures voicing sharp criticism over its unclear provisions and broad regulatory powers. Lachezar Bogdanov, chief economist at the Institute for Market Economics, described the law as “more of a scarecrow law,” warning that while it might be intended as a deterrent, if enforced, it could lead to a revival of the planned economy and undermine the free market.

Bogdanov’s main concern revolves around the law’s vague criteria for what constitutes “justified” price increases during the controlled period from August 8 this year to December 31 next year....